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Cryptocurrencies Rise Amid Xi–Trump Meeting Announcement: What’s Next
Bitcoin
From October 17 to 24, 2025, Bitcoin gained 4.42%. After hitting a five-month low, the world’s largest cryptocurrency managed to halt its decline and climb back above $110,000.
The rebound is largely driven by increased investor interest — both in the spot and derivatives markets. Open interest in Bitcoin options hit a new all-time high of $65.58 billion, signaling expectations of significant price movement.
Spot Bitcoin ETFs posted $355.76 million in weekly inflows, reversing last week’s outflow of over $1.2 billion. Although smaller than early-October figures ($3.2B and $2.7B), it marks a clear shift to positive momentum.
Political developments also contributed to the rally. On October 23, news broke that Chinese President Xi Jinping and U.S. President Donald Trump will meet in South Korea on October 30. Investors welcomed this as a sign of potential progress in resolving the tariff dispute between the two nations — a major factor behind the crypto market’s drop on October 10–11.
Prediction platform Polymarket shows 79% odds that the two leaders will reach an agreement on tariffs by November 10.
Technically, Bitcoin remains in a downtrend, trading below its 50-day moving average, with RSI still below 50. Support and resistance levels are $103,530 and $144,088.
The Crypto Fear and Greed Index rose by 8 points to 30, still reflecting a fearful market sentiment.
Ethereum
Ethereum gained 3.5% over the week, briefly surpassing $4,000 midweek before pulling back.
Despite the rise, sentiment remains cautious as ETH spot ETFs posted a second consecutive week of outflows — $150.31 million, the first back-to-back withdrawals in six months.
Meanwhile, internal tensions resurfaced within the Ethereum Foundation. Péter Szilágyi, lead developer of the Geth client, criticized Vitalik Buterin and the foundation for centralizing decision-making power, sparking renewed debate about governance.
Additionally, the foundation announced it will shut down the Holesky testnet and migrate developers to the newer Hoodi network within ten days.
From a technical perspective, Ethereum has entered a sideways range, but bears still dominate. The price remains below the 50-day MA, while a low ADX confirms the absence of a clear trend. Support and resistance stand at $3,820 and $4,295.8.
Solana
Solana rose 6.41% from October 17 to 24, closing in the green for five of seven sessions. The week’s high was $197.8, and the low $177.17.
A major catalyst was the approval of the world’s first spot Solana ETF, launching October 27 on the Hong Kong Stock Exchange. The ChinaAMC Solana ETF will trade in HKD (03460), CNY (83460), and USD (9460), with one lot representing 100 SOL.
This launch is expected to expand global investment access and enhance Solana’s brand visibility.
The RWA (Real World Asset) tokenization market on Solana hit an all-time high of $707.79 million, up 5.81% in a month. The number of tokenized asset holders jumped 18.28%, signaling rising institutional interest.
Meanwhile, Fidelity added SOL to its platforms, enabling trading and custody services for retail and institutional clients.
Technically, Solana remains in a downtrend, but MACD is nearing a bullish crossover, with just 0.14 left to trigger confirmation. Support and resistance are $160 and $211.5.
Conclusion
Major cryptocurrencies posted solid weekly gains, buoyed by the announced Xi–Trump meeting and the launch of the first-ever Solana spot ETF in Hong Kong — both signaling renewed optimism in the digital asset market.
See also: "Money Returns to Bitcoin: Is Altcoin Season Cancelled Again?"
